Solana Price Soars to $110, Eyes New Target at $125

Solana's price has rebounded to its January levels, reaching $110 before retreating to a daily low of $105. This sudden jump was largely driven by Charles Schwab's plans to incorporate SOL into its offerings.

The altcoin's uptrend has strengthened despite recent market volatility, with Solana up 5% on the daily charts and adding to its weekly gains of 18%. However, this volatility also triggered a wave of liquidations for both short and long positions, with over $30.35 million worth of shorts being liquidated.

Despite these liquidations, traders have continued to deploy massive capital in opening new positions, with Solana's Open Interest rising by 10.4% to $7.54 billion and derivatives volume surging by 69% to $17.27 billion.